CHASKA, Minn., Oct. 04, 2024 (GLOBE NEWSWIRE) -- Lifecore Biomedical, Inc. ("Lifecore"), a fully integrated contract development and manufacturing organization ("CDMO"), today announced the closing of a $24.3 million private placement ("PIPE") of 5,928,775 shares of its common stock at a price of $4.10 per share. The investing group includes new and existing shareholders, and the company expects to use the proceeds for working capital, operations, and general corporate purposes.
"We are very pleased to have the confidence of these new and long-term stockholders, which we believe reflects their support for our new management team, our plan for value creation, and the tremendous opportunity we have in this growing market," commented Paul Josephs, president and chief executive officer of Lifecore.
Important Information Regarding the Common Stock
The common stock was issued in reliance on an exemption from registration under the Securities Act of 1933, as amended (the "Securities Act"), pursuant to Section 4(a)(2) thereof. The common stock sold in the private placement has not been and will not be registered under the Securities Act, or any state or other applicable jurisdiction's securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the ...
